Victory Capital Management Inc. cut its holdings in IDEX Co. (NYSE:IEX – Get Rating) by 68.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,349 shares of the industrial products company’s stock after selling 290,270 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of IDEX worth $25,632,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its stake in shares of IDEX by 7.3% during the first quarter. Commonwealth Equity Services LLC now owns 3,670 shares of the industrial products company’s stock valued at $703,000 after acquiring an additional 251 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of IDEX by 6.2% during the first quarter. Envestnet Asset Management Inc. now owns 124,270 shares of the industrial products company’s stock valued at $23,826,000 after acquiring an additional 7,214 shares during the last quarter. Arizona State Retirement System raised its stake in shares of IDEX by 2.3% during the first quarter. Arizona State Retirement System now owns 21,164 shares of the industrial products company’s stock valued at $4,058,000 after acquiring an additional 472 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of IDEX by 3.9% during the first quarter. Mount Yale Investment Advisors LLC now owns 4,332 shares of the industrial products company’s stock valued at $831,000 after acquiring an additional 164 shares during the last quarter. Finally, Metis Global Partners LLC bought a new position in shares of IDEX during the first quarter valued at about $230,000. 96.95% of the stock is owned by institutional investors.
IDEX Price Performance
Shares of IEX opened at $209.85 on Thursday. The stock has a market cap of $15.84 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.13 and a current ratio of 3.02. IDEX Co. has a fifty-two week low of $172.18 and a fifty-two week high of $240.33. The firm’s 50-day simple moving average is $188.33 and its two-hundred day simple moving average is $192.68.
IDEX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, July 14th. IDEX’s payout ratio is 35.82%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of IDEX from $219.00 to $228.00 in a research note on Thursday, July 28th. Stifel Nicolaus downgraded shares of IDEX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $229.00 to $188.00 in a research note on Monday, July 18th. Morgan Stanley decreased their price target on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, June 9th. Mizuho increased their price target on shares of IDEX from $190.00 to $205.00 and gave the stock a “maintains” rating in a research note on Monday. Finally, Oppenheimer raised shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 price target for the company in a research note on Thursday, July 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.82.
IDEX Company Profile
IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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